ST MARY THE VIRGIN PARISH CHURCH wEsTERA KENT FINANCIAL STATEMENTS of the Parochial Church Council for the year ending 31° December 2023 Priest in Charge: Reverend David Fox-Branch The Vicarag¢ Vi¢aragc Hill We5teTham. Kent Bank National Westminster Bank PIC Sevenoaks branch 67 High Street Sev¢noak4 Kent Independent eIAminer: Brian [k)S 61 Croydon Road Keston BR2 6EH 25th May 2024 Registered charity number 1133994
ST MARY THE VIRGIN PARISH CHURCH Membership of the PCC 2023 The method of apintment of PCC members set out in tF& Church Representstion Rules. with members for 2023 listed below. Ex Officio: Priest in Charge Co-opted Churcbwarden Deanery Synod resentatives Eleeted Membern (12 allowed Including CO• ted Rev David Fox-Brdnch Revd Wendy Harvey Mrs C Cusick Mrs C Boston Mrs K Smart Mr D Booker Chair Since 23 Se mkr 2021 Elected May 2023 Chair of Fabric Committee Vice ch'r from 24 Jan CO[*¢d May 2023 2024 Mrs G Bumiester Mrs J Dutrield Mrs K Johnson Dr A Leather Mrs A MorTiS Mr B Preslon Mrs R Preston Mr K Willcox Mr P Cambnd Mr R Pomfrei Parish Safeguarding oifjcer Vice Chair until 24th Jan 2024 Ctro C( edma 2023 The PCC is supwrt¢d by the following officers (not PCC members) but in attend at meetings) Secretary Miss A Coughjan In attendance at meetings Apinted 8 November 2023 Due to Allness, Mrs Perrett was unable to draw up these accounts and Ms Melanic Bailey was apinted for that purEK)se. Mrs A P¢TTett All those who attend our services are encouraged to rewstcr on the Hectoral Roll a1 stand for election to the PCC. PCC members are reslL81b1¢ for making decisions on all matters of g¢n¢TaJ concern and importance to the parish. includmg deciding how PCC fimds are to be snI. Giv¢n its wide resrK)nsibilities. the PCC has three SUcOmmItt¢¢5- Fabric, Finance and a Stsnding Committee which can make decisions required tween fi1 PCC rn¢¢tings. Each committe¢ h&$ clear ternis of r¢fcrence and rep)rt back to the full PCC. In 2023 a 181 Committee was establishe4 which raises funds through social and community ¢venls. There is also an Environm¢nthl Group, which is on to non- church members and works ¢$iallY with regard to ts S Mark of Missio
FiDancial Report by the PCC of S¢ Mary the Virgin Parish Church. Westerham for 2023 l Aim and purpose St Mary the Virgin Par(Khial chUh Coun¢il (PCC) has the rnsibIlity of c(K)perating with the Priest in Charge. the Reverend David Fox-BranclL in promoting in the ecclesi&stical parish. the whol¢ mission of ChurcEL pastoral. evangelistic, social a1 ecumenical. The PCC is also ScifICallY reswnsible for the maintenance of the Church of St Mary the Viwn, IlUding the attsched 'John Fryth Room. hall and churchyard at Thc Greeo Westerham. 2 Objeetivej and activitiej The PCC is committed to SIng the 5 Marks of Mission to shape the life of the church community in our vision of "Serving ChrisL Westerham and the Wider World" Th¢ 5 Marks of Mission express th¢ Anglican Communion's cornmon commitment to. and understanding of, G(Kl's holisticjintegrdl mission. i.c. l. To proclaim the Good News of the Kingdom 2. To teach. baptise and nurture new believers 3. To resnd to human necd by loving 5¢rvi¢¢ 4. To transfomi unjust structures of society, lo challenge violence of every kind and pursue peace and reconciliation 5. To strive to safeguard the integrity of creation. and sustain and renew the life of the earth We seek to Teach as many pyle as FM)ssible with the Good News of Jesus ChrisL enabling them to worshlp at the church and to Ixcome part of thc f'th community ai Si Mary the Virn. We aim to baKfit the public locally and from further afield by offering a variety of church services and by enabling >ple to live out their faith within both the church and wider community. As a pwish church, we SUPEK)rt people from Westerham, and further afield, at EHrtscular win15 in their liv¢s by prcpanng them for, and tsking weddings, baptisms and fun¢rals. Thc number of 'occasional ofFi¢¢s' held in church was 35 in 2023, compared to 30 in 2022 and 23 in 2021. Our services and worship put faith into prnctice through prayer and scripture, music and sacrament. To f&ciliti*e all this worl it is imFK)rtant that we nuintsin the fabric of th¢ Chur¢h of the Church building and churchyard. In 2023 our Ministy Team consisted of.. Priest in Charge. Rev. David Fox-Br8nch Priest wlth Pern?ission lo Officiale, Rev. Wendy Harvey OTdinand Dr s Leatkr. This year we appointed a Director of Music. Mr Daniel Eat0 who SUPPK)rts the ministy team's service planning, plays the organ and piano for Sunday and other services, leads the choir and plans special events. We also have 2 prt-time ld office administrator. who adth'tioftally serves as Secretary to the Parochial Church Counril. Achievements aod perfomanee This year was the first since the Covid pandemic in which we were able to pl8n the entire year without reference to public health considerations. Although. in common with many parishcs. Sunday congregation numbers at individual services remain lower than in 2019. the last full y¢ar pr¢-Covi4 they remained steady with som¢ signs of growth compared with 2022. Number5 at seasonal services were close to 2019 leve15. and slightly higher on Ash Wethi¢sday, Maundy Thursday and Eastcr Day. At Christmas the Crib Service. which intr(MJuced in 2022, thc congregation
was over 500/0 gr¢ater than in the first year while our other Christmas and Advent s¢rvAces continued last year's growth. In 2023 we continued to broad¢n our worship provision with the iotroduction of yl Sunday. an infornl service with ld-led music and activities for all ag. A significant moment in the life of the prish was the Coronation of King Charles III. although it was noticeable thai this did not draw prople to the pmnsh church in the same way that the Jubile¢ and then death of the late Queen th'd in 2022. To proclaim Ihe Good Ne of the Kingdom Being the only Anglican church in West¢rham we offered a variety of worship service4 incluth'ng tr&ditional language 'said' Communi0 choral morning S¢Tvices. Evensong and 'Messy Church.. Ministers lead Morning Prayer most Tuesdays. Wednesdays. Thursdays. Fridays and Saturdays, as well as midweek Eucharist. We have a ffgular schools ministsy shared with the local Congregational Church. plus four h0o1 services in ¢hur¢h thi's year. These are oppK)rtunities bring the Christian message to adults and children alike who otherwise might not trnIallY visit a chUh. We were also pleased to welcome Valence School members to St Mary's this year. to talk about the church and our faidL We have sought opw)rtunities to collaborale with other local church¢s at key moments ID the year. To teach, bapttse and nurture nejv believers As well as systematic Bible-based preaching in Sunday service4 ¢hur¢h m¢mb¢rs and the Priest in Charge support the local Church of England Sch(L)l as governors. The school has a distin¢tiv¢ly Christian ethos, and th¢ church endeavours lo supw)rt that wherever pK)ssible. In 2023. school wotship was tie41 more closely to th¢ SIAMS curriculum. We encouraged the school to emWer the children to take a lead in preparing and leathng whole-school worship and class-based worship, and the C'ldren have responded with enthusiasm. Bibles. donat¢d by an anonymous donor, were th'stributed in school at a spyciai Ll)Ilectiv¢ worship to wel¢om¢ reception children. In addition, we orgamsed an ecumenical Lent course and host¢d a Deanery Confimiation serviL% for the first time in som¢ years. with two adults from St Mary's being confiTmed and one other being re(¥ived into the Church of England as well as canth'daies from elsewhere being confirnied. To rupond to human Deed by loving service Throughout the year there are particular servirA that draw many from the community into the church. In 2023. at requ¢st of the British Legion. the Remembrdnce service was held inside. after an outdoor act of Remembranc¢. for the first time sinrx 2019. Although this probably reduced the number of people who stayed for the worship part of the evenL it enabled the Legion lo incre&se the value of the collection they received and many who allended seemed to feel moved by the service. The church is open every day for private 8Yer as well as for tourists (free of charge). prayer requ¢sts can be left on the prayer board and are includaj in Sunday PTayers. The ministers me¢1 and pray with individuals as requested arf on £as1o0 make referrals such as lo the FoodbanK adult social services and emergency hous The governors of Churchill School and Priest in Charge offer pmstoral support to staff and pupils. The Hosey Tt continued to make inth'vidual grants to meet the needs of Current and past pupils up to the age of 25.
The clergy visit the bereaved aFJd take fillrals- both in the chUh and at l(Kal crematoria. This year has se¢n slightly fewer funerals and memorial services in Churc comwed to 2022. but more burials of he5. We also conduct funerals at crematoria and cemeteries, but these are not rco)rdcd in the service reSters. The Pastoral Care Team h&8 been very active. providing spiritual sup¢ prayer and distributing communion to th0 from our con8r¢gations who are unable to attend church services duc to ill health. The Priest in Charge is also a truse foi the Westerham Almshouse Chan'ty. providing accommodation for persons in need. The PCC suptM)rts the local Westerham FoodbanK with a fidl-time collection int in the church and various memixrs, including one of the ministers. actively involved The HaTvest seTvices. for the sch(x)l and parish, collcctcd lots of donations for the fO(bank. The church also VeS away or all of the offering certain services, such as Remembrance Day, Christingl¢ and during iznL and makes other appeals in resnse lo events tn the wider world. To traDJform unjust structures of Society, to ch#llenge violeD¢e of every kind and pursue peace and reconciliation Through preaching. being a Fairtrade Church and suprtIng charities to make the world a faIr place, we work towards this mark. A successful fuThlratsing concert for Ukraine was held in the church. organised by members of the wider community. and Porchli8ht was SUPPK)rted via collections in Lent. We a150 hold some h1¢81 inv¢stm¢nts. To strive to safeguard the Integrity of ereation. aDd Just*iD aDd renew the life of the earth The PCC cares for the churchyard and has undertaken re-wilth'ng ofsome areas. The liturgical season of Creationtide is c£lebrated annually. The Environm¢ntsl Group continued to guide and encourage our moves to live more in harniony with God's Creation. We already have the Bronze Eco Church award and are actively working iowards 8ilver. Swift boxes have been in5tall¢d in the tow¢r. Work has been done on developing a plan to be carlx)n neutral by 2030. Our electricity is ccrtified 'en.. As part of ihe redecoration of the John Frith Room. LED lighting was instslled. An environmental handk is in prepwatio Flnancial Review Church activitics are funded by regular giving (mainly attrdcling gift aid), collections, donations, f¢es and inv¢stm¢nt inwm¢. Total income for 2023 was £130,581 of which £50.517 was restricted funds. This compares to total income for 2022 of £116,333 of which £52,984 was restricted furKls. Genera] fimd incom¢ in 2023 amountd to £80.016 compared with £63,349 in 2022. Overall ¢xpKnditur¢ in 2023 was £189.767 of which £80,646 was reStri¢d funds, compared with £14,093 in 2022. General fund exFnditure was £106.962. compared with £95.293 in 2022. This was driven in part by increasing prices arising from the cost-of-living crisi4 and in part related to the maintenance of ageing heating systems and other equipmenL Overall. th¢r¢ was a net deficit on general funds of £26.946 comred with a deficit in 2022 of £31.944. St Mary's investment holdings (detaj'ls in note 3 of the financial ststements) in¢reas¢d in value by £58.616 during the year. Of this £34.640 related io restricted funds. £21.218 to desIgted fund5 and £2.758 to the general investment valu¢ reserve.
Reserves policy Th¢ PCC h&s s¢t asid¢ reserves in designat&l funds for the following PUTPK)5es Over the years the trend has been for the church's itiveslm¢nts lo have risen in value. This year we have sold som¢ investhjents to fund running costs. which is nol a sustainable strategy in the medium lo long tern] with reserves ideally us&1 onty for strale¢ invcstments. The PCC beIieves it is prudent to maintsin a reserve against futurc flS in investment Val which aff likely to (Aur from time to time. Accordingly. an inv¢slm¢nl value reserve cxists. The main rhurch buildings of an age and type that perioth'(xlly major ryirs WAII be required. St Mary's is fortunale that the Westerham HcTitage Tn( an independent charity. raises funds which may be available when major r¢pirs arc Tequired However. the PCC reLXl8nises the need to retain a r¢serve for contributing to such repirs. The PCC believ¢s that work with children and youth is an importatrt of its mission. A reserve has been estsblished to supwrt major initiatives in this field. The PCC resolved thai this should contribirt¢ to Director of Music's salary, as pwrt of his remit is to eDgag¢ younger people. Similarly. the PCC believes outreach both within the immeth'ale community and in the wider world is part of St Mary's mission. A reserve has b¢¢n ¢sthblished to sUprt future initiatives in this field and again, some of the incomes from this contributes lo the Director of Music's salary. Adminiqtrative infonnAtioD St Mary's is situated ai the northeast corntt of The Green tn Westerham. the correspM)ndence address being The Gr¢¢ry Westerham, Kent Tr116 IAS. The regis*r¢d ¢harity number is 1133994. Details of those who have served &s members of the PCC between the 2023 APCM and the date of this report are shown on page 2. Payments to and giving by membert of the PCC The total identified giving by m¢mkrs of the PCC. while members, totslled £7,335 excluding Gift Aid recoverable. Reimbursement of out-0f-ket expenses for the Priest in Charge totalled £673.83 for 2023. Other Funds These funds are sewdte trust funds administered by the PCC and do not apFar in the coUnts. Applications for grants can be made for S¢if1C use related to the purp)se of the fill$. Westerham Church of England ReliOu5 Education Fund is extsts to SUp>rt activities contributing to r¢ligious education connected to St Mary's Church. Its ass¢ts at the year-end tots11 £29.981. 88. Th¢ Priest in Charge and church wardens are the TnL8tees. Westerharn Hosey Fund supw)rts pupils ond fomier pupils of Churchill Church of England Primary School up to the age of 25. Its &gsets at the year-¢nd amounted 10 £47,371.04 but £1439.68 was paid by St Mary's in grants and this sum is yet to be reclaimed. The TnleeS are the Prlest in Charg¢. church wardens and two nominated Tntees. Th¢ Ralph Fund ¢xists lo provi(k hclp io those in need in the pwish. It is managed by the Thi¢st in Charge and church wardens. its assets at the Year-e[ totslled £11,211.18. Si Mary's manages the North Downs Guild ofmusic fimd. Its assets ai theyear-end amounted to £147,957.54.
Independent Eraminer'j Report to the PCC of St Mary the Virgin Parish Cburch Westerham I r¢px)rt on the accounts of the PCC for the year ended 31° Dettmber 2023. which a set out on subsequent pages. Respective ruponjibilities of the PCC and tbe IDdependeDt Examiner As members of the PCC. you are resp)nsible for the pretmrntion of the accounts. You consider that an audit is not required for this ycar under Sedion 14412) of the Charities Act 2011 ('the 201 l Act.) and that an ind4Knd¢nt eaMinatiOn is need. It is my Tesponsibility to Examine the a¢¢ounts under Section 145 of the 2011 Act. Follow the procedures laid down in the general directions given by the Charity Commissioners under Seclion 145(5Xb) of the 2011 Act. and stste wkther cUlar matters have eomc to my attention. Baslj of Independent Examlner'$ Report My examination was carried out in accordance with the Gener directions Ven by the Charity Commission. An examination includes a review of the accounting TOrdS ke by the chan'ty and a cOMrIson of the accounts presented with those records. It also includes considerntion of any unusual items or disclosures in the accounts and sccking cxplanations from you as Trustees conc¢rning any such matt¢rs. The procedures undertaken do not wovide all the evIdee that would k required in a fi] audit. and consequently I do not express an audit opnion on the aLwun Independent Examiner's Statement In connection with my examinalion, no rnatters have come to my attention: which give me reasonable cause to believe that in any material aspect the requirements to ke¢p accounting records in acLordance with section 130 of the 2011 Act" OT to prepare a¢¢ounts which with thcse accounting records have not I1 met. or to which, in my Opinio attention should be drawn in order lo enable a proper understanding of ¢ accounts to be reached. Sign¢d.. Brian Downs 61 Croydon Road Keston BR2 6EH
ST MARY THE VIRGIN CHURCH, wLERHAm Balance sbtet at 3Jst Dttembtr 2023 Gentral ROStr*t Tolal Totsl 2023 2022 FIXED ASSETS 30J23 274.238 3.779 695.340 681.724 CURRENT AETs Short tenn dewsits 1580 45236 47.816 51.235 Cash at bank and In h& (3.9941 (2.112) 20,925 14.819 31.497 Amounts re1Vable 16.280 16280 7,840 J4J66 (2.112) 66.161 7&915 )J72 CREDITORS (duc within l year) Creditors 1636 1212) {8481 (50.719) NFf CURRE ASSErs 14230 {2,112) 65.949 7&067 39.853 NET ASSETS 272,126 W728 773A17 773,977 Approved by the PCC on the 25th 8Dd signed on its behalf by David FOX-B
ST MARY THE VIRGIN CHURC WESTERHAM Notej to the Fi¢111 Statements y¢ar endiD8 31st Dnber 2023 G¢lleTI Daignted Rejtrictsd Fuud¥ Tothl 2023 Totsl 2022 Incomitti reJource4- PA8¢ 9 Voluntary income Athiviti¢s for 8enerntin8 fijnds In¢ome fr 1nve5thlets Church activities 52.260 7.736 15.365 48 43,286 95,776 .736 22.414 85.872 2.271 21.709 7.049 182 8Q016 50J17 130.581 116J33 Resourcei Pende11- PAgt lil Church A¢tivities Chur¢h runnin8 ex5 FundrAi8ing expendilure Totsl resources expended 161,703) 143.056) (1159) { 7451 {79.1) 164.607) 1122.957) 168.381) { 41.004) (106.962) 12.1491 { 80,646) { 189.7671 (109J85) Ne¢ In¢•mitt8 reMTeei 26,9461 130.1291 Iq9.IR61 948 Net yi# M inve•tmeJ 2758 21318 M640 5&616 1 lJ8.V571 Net eMent on fya (24.1881 19,107 4Jii 157QI 181.1091 BalAnees bro¥gb¢ forwrd Balrt urried forward 253 019 271126 452 216 4S727 773.977 773,4117 855 087 773,978 44.554
ST MARY THE VtRGtY CHURCH. WEsfERHAM Notes to the Fina[la1 Statements year ending 31" December 2023 JNCOMING RESOURCES Jeneral ignated estricted idowmeD Total Tot41 Funds Funds Funds Funds 2023 2022 Voluntsry Income 'N P1arnd givinyjgifi 28,118 28,118 33,312 Income tsx r0Verable ,, Colleclions/EPO Visitors and otheT giving y Grants DonatiOD5 Legacies Choir and bell rin ers 6,832 4.590 6.262 5.709 3,760 42,372 30,965 5.837 2.021 4.590 5.661 1,236 5.837 48 41.136 2,150 2.150 1.720 52A42 48 43286 9S776 8U72 Activltles for Generatlon Fund$ ,Fund'slng events BL)okstsll 9.710 26 8,7JO 2259 26 12 9.IP)S 2371 22.414 21,709 22.414 2J,709 Income from Investments Dividends and interest Church A¢tlvilk4 F¢¢s for weddings and funerals 15,365 1SJ65 7.049 7,049 2.596 2.778 6.222 182 Sundry income 877 3.473 80,016 877 259 3.655 6,481 J30,58J 116J33 182 Total Incoming Rejoureej 50J17 io
Notes to the Financial Ststements year ending 31st December 2023 General DejIg Rejtrirt Endown Jnent FuDdJ Totsl Totsl Fundj Funds Fund 2022 RESOTJRCES EXPENDED Church Activities Missionary and Charitsble giving Outreach Expenses Contribution to dioce Vicavs and Vicarage ex$¢5 Organ and Choir (incl bell funds) Other costs 1201) { 159) {4891 (45,851) (55.2891 (159) (45.851) (4.014) (8,792) (2,1 13,0461 (4.014) 15,284) (11.537) (7,1191 11 0461 (745) Ihl.711Jl 12.159 174_51 {(iJ.6117J 10¥.38? Cburcb Running Expenses Parish otTice Church cleaning Staff remuneration Insuran¢e Heat and light (4.351) { 7) (10,315) (4.798) { 4,351) (5.5241 (7) { 484) (10.315) (11.8501 (4.798) (4,6451 (15.157) { 5,7401 15.157) { 8.428) Repairs and maintenanc Churchyard expenses Repair Projects (8.428) { 5,2051 (8,154) (8.154) (7.5571 ",471 143.056 j79.9UI {IZLY57) 14'.UUJ} Other resources expended Fundraising and bookstall Total resources expended 2.21131 118('.7CI711 :.:11).-31171 11116 ()621 1 ? 1 591 Itlll.()4()1 li
Notes to the Financial Statements For the year ended 31° December 2023 Accounting policies a) The financial statements have be¢n prered under th¢ Cbariti¢s Act 2011 and in a¢¢ordance with the Church Accounting Regulations 2{K together with FRS 102 and Ststement of Recommended Practic¢ 'Accountiog and Rewrting by Charities,. The ststements bave been pr¢Fwed under the historical cost C4)nvention except for the Val of investmenl assets whj'ch are slK)wn & fair value. Tly are prepwed on t going concern IMsi5. Incoming resourc¢s are included when re¢¢ivabl¢. Liabilili¢s are regM$Cd when the obligation arises b) The funds held comwise unrestricted funds representing the Tonaining iWA)me funds of the ¢hur¢h together with fimds designated by the PCC for particular FXErp)ses' restricted funds comprising endowin¢nt fimds that must be retsined as church capitsl and income funds w.Ch can only be spent on restricted PUTPOS¢S. c) Consecrated and benefic¢d property of any kind is not inclu&d in the financial slaiements in accordanc¢ with the Cl)arities Act 2011. Th's iludeS all fixtures and fittings in the church builth'ngs. d) Investments are valued al market value as at 31° DeMr 2023. Prlegt In Chgrge •tipend and parbh offer The Priest in Charge's stId and lOrt ¢osl are pid by the Diocese of Rochesr. The diocese also incurs oth¢r costs which are tK)rne by pwishes through a ¢harg¢ traditionally known as 'parish share,. This includes a share of the overall cost of nmning the th'o¢¢se and wvith'ng s¢rvi¢¢s sh &8 legal advice. of supw)rting ministry in parish¢s that cannot Fwy the fi] of their ministers. of mission xtivity across the dioce. From 2015 the Diocese of Rochester introduced a new sysm whereby parishes made an annuaj 'offeV to cover all these costs. St Mary's offer for 2023 was £45,775. This covered cost of h&ving a full-time minister in the benefice but did not contribule towards the wider mission of th¢ th'oc¢s¢. Tr PCC resolved to increase the offer if funds LK¢ame available but they th'd nol. 12
ST MARY THE VIRGIN CHURCH. WESTERHAM Notes to the FinADcial Ststements For the year ended 31° December 21n3 Investments The main Church. Churchyard 8nd NDG invtmCnts are held in CBF Invcsthienl Fund shares. The gainlloss on revaluation of the Church holdj'ng h&8 been allocated to the various funds (cndowment. designated and general) according to th¢ rel8tt.ve FrOrtionS ofthose funds. Th¢ investments in M&G Charifund are all allocatcd to general funds. CBF CBF shAreJ North Downi Churthyard Gufrld of Muiic M&G TotAI Va]ue on 31* De¢•nb 2022 Sold durin 456,187 81,432 110.975 33.131 681,724 411.187 81.432 110.975 33.131 6724 Gain ¢ffi Valuati durinB 2023 Vaiue it 3181 D¢wnber 2023 10.532 45 19 89.160 121.507 69 13
ST MARYTHE VIRGIN CHURCH, WESTERHAM Notes to the Finaneial Ststemellts For the year ended 31° December 2023 Funds Th¢ movements in indivtthwl fiumjs in the year are shown bclow Forward Income 2022 Eipendithre CainllAMJ Tranrfer At end 2023 Restrithd fun Church endowment 163,732 Churchyard endowment 81,432 NDG endowment 110.975 Legacies 25,000 B¢llringcrs 2.524 Choir 1239 Churchyard Deposits North Dowms Guild cash 16,379 7.729 180.111 89.161 10,532 121.507 25,000 3,054 2,114 16,783 1220 930 1690) (55) (8,154) 15.825 9,112 22.373 4,076 35.178 SOJ16 26,449 ir ects 29.117 452316 1811,eJ46) 456.726 Designated funds Investment value reserve Major repairs Children and youth 37.5(MJ Outreach 40,(X)O 253,019 6&742 135.519 13.557 149.076 39,909 40.287 42.854 272,126 44.554 36 12 I I.(KKII 3,751 4.(M)I 21318 1758 General fund 016 (106,962) Total 773977 130J80 1 IllJ(.767J 16 773,406 14
ST MAR.. THE VIRGIN CHURC WESTERHAM Notes to the Fin8neial StstemeDts For the yesr ended 31" December 2023 The endowment funds reprcsent sums held as capital for the resptsVe pUrseS. The other fimds ¢omprise incom¢ less eXndItUre incurred for the SEKcifi¢d purp)ses. Of these, EPO funds are those collected specifically to donat¢ to lArio8 charities. Going CoDcern The PCC agreed that the financwl statements should be pr¢EWT on the going concern b&8is. Il was note however, that income levels remain lower than pre-covid while costs have risen. Plarnd giving has continued to drop as has collections, although the latter might be explained in prt by incre8s&l use of the ¢ard rthr. For most of the year. the p)sition of Treasurer was vacant which limi*d the PCC'S 8bility to Spond and plan to a challenging financial situation. High energy priccs and inflation meant that it was necessary to draw ol) investments to meet numing costs, with a net deficit in the general fund broadly in line with that budgeted- for. Although tFrr¢ are substantial investments. drawing on tIKse to Ver shortfalls reduLYs the financial sustainability of the parish acioss time. A concerted effort has been made by the PCC to increase fundraising income and this resulted in fundraisin8 actlVTties eaming more in 2023 than 2022 This will continue to be on in the future with a commitment by the PCC to prepare a clear income generation strategy. as will OPFK)rtunities to attract grani funding thal incorporates indirect costs. Incr¢as¢d fiumlraising activities. thc eff¢¢ts of the new lighting scheme. hire of ihe John Frith Room and a reduction in energy supply costs from OctolKr have help%d to mitigate some costs. 15